Overview
Metal Products

ONEX Corporation

ONEX Corporation is a specialized metal heat treatment manufacturer founded in 1950, offering a comprehensive range of heat treatment services including carburizing, nitriding, vacuum heat treatment, high-frequency heat treatment, and non-ferrous metal heat treatment. The company has built industry-leading expertise in atmosphere heat treatment control technology, particularly in carburizing and nitriding processes. Its group also operates a freight transportation business supporting logistics for heat-treated products.

Market Cap
¥2.75B
US$17.5M
EV
¥1.11B
US$7.06M
Stock¥1,660▲+0.55%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
1.4
x
LTM EV/EBIT
3.0
x
LTM PER
7.2
x
LTM PBR
0.5
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-35.4%pt
1001
Oct 24, 25 – Oct 22, 26StockTOPIX
1Feb 17, 26Stock rise on earnings announcement
MC → EV Bridge
2.75BUS$17.5MMarket Cap1.59BUS$10.1M+ Debt2.84BUS$18.1M− Cash0.39BUS$2.48M− Inv. Sec.1.11BUS$7.06MEV
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Performance & Balance
Revenue 5Y (¥B)
5.30US$33.8M'22/65.37US$34.2M'23/64.97US$31.7M'24/65.05US$32.2M'25/65.29US$33.8M'26/6
EBITDA 5Y (¥B)
0.67US$4.28M'22/60.61US$3.88M'23/60.58US$3.72M'24/60.38US$2.45M'25/60.77US$4.93M'26/6
Net Income 5Y (¥B)
0.16US$1.03M'22/60.22US$1.41M'23/6-0.38-US$2.40M'24/60.00US$0.01M'25/60.38US$2.44M'26/6
Capital Structure
78%
22%
EquityD/E 0.28xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
2.64US$16.9M2.89US$18.4M'22/62.77US$17.7M2.75US$17.5M'23/62.99US$19.1M2.37US$15.1M'24/63.23US$20.6M1.90US$12.1M'25/63.23US$20.6M1.59US$10.1M'26/6
Shareholders
Top 10 hold 64.8%
1
FUTU SECURITIES INTERNATIONAL (HONG KONG) LIMITED (Standing Proxy: moomoo Securities Co., Ltd.)
19.75%
2
Tsubasa OYA
8.29%
3
PHILLIP SECURITIES(HONG KONG) LIMITED (Standing Proxy: Phillip Securities Japan, Ltd.)
7.86%
4
RUIYING JAPAN Co., Ltd.
4.83%
5
The Bank of Yokohama, Ltd. (Standing Proxy: Custody Bank of Japan, Ltd.)
4.82%
6
Hakuyu YAMAKAWA
4.38%
7
Hakuchu YAMAKAWA
3.94%
8
MIB SECURITIES(HONG KONG)LTD ACCOUNT CLIENT (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
3.93%
9
Sumitomo Mitsui Banking Corporation
3.53%
10
The Shoko Chukin Bank, Ltd.
3.44%
Management
7 officers
Shutaro KIDA
Representative Director, President
Jun 2004 Mizuho Bank, Ltd., Shenzhen Branch (China) Jul 2016 General Manager, Fosun Group Jan 2018 Executive Officer, Leading Securities Aug 2021 Representative Director, Kida Shoji Co., Ltd. Sep 2025 Representative Director, President, the Company (current) Sep 2025 Representative Director, President, O-Nex Line Co., Ltd. (current) Sep 2025 Representative Director, President, O-Nex Tech Center Co., Ltd. (current)
1979-05-15
Hakuchu YAMAKAWA
Chairman of the Board, Director
Apr 2005 Joined Hozan Food Industry Co., Ltd., Unit Chief Aug 2024 Representative Director, Pinnacle Properties Co., Ltd. (current) Sep 2025 Chairman of the Board, Director, the Company (current) Sep 2025 Managing Director, O-Nex Line Co., Ltd. (current) Sep 2025 Director, O-Nex Tech Center Co., Ltd. (current)
1986-10-18
Tsubasa OYA
Senior Managing Director, Executive Officer, General Manager of Sales Headquarters
Oct 2015 Joined the Company, Assistant Manager, Administration Headquarters Oct 2018 Manager, Quality Assurance Section, Atsugi Plant, the Company Jul 2025 Executive Officer, General Manager, Equipment Management Department, the Company Oct 2025 Executive Officer, General Manager, Sales Headquarters, the Company Mar 2026 Director, O-Nex Line Co., Ltd. (current) Sep 2026 Senior Managing Director, Executive Officer, General Manager of Sales Headquarters, the Company (current) Sep 2026 Audit & Supervisory Board Member, O-Nex Tech Center Co., Ltd. (current)
1984-03-01
Takaaki ISHIMATSU
Managing Director, Executive Officer, General Manager of Business Headquarters, Plant Manager of Atsugi and Higashi-Matsuyama Plants, General Manager of Equipment Management Department
Mar 1987 Joined the Company Aug 2014 Deputy Plant Manager and Chief, Production Control Section, Higashi-Matsuyama Plant, the Company Aug 2016 Deputy Plant Manager, Higashi-Matsuyama and Nagano Plants, and Chief, Nagano Plant General Control Section, the Company Apr 2018 Deputy Plant Manager, Atsugi and Higashi-Matsuyama Plants, the Company Apr 2020 Deputy General Manager, Administration Headquarters, the Company (seconded to Shosei Co., Ltd.) Apr 2025 General Manager, Administration Headquarters, the Company Jul 2025 Executive Officer, Deputy General Manager of Business Headquarters, Plant Manager of Atsugi and Higashi-Matsuyama Plants, the Company Sep 2025 Director, Executive Officer, Deputy General Manager of Business Headquarters, Plant Manager of Atsugi and Higashi-Matsuyama Plants, the Company Sep 2025 Director, O-Nex Tech Center Co., Ltd. (current) Sep 2025 Director, Executive Officer, Deputy General Manager of Business Headquarters, Plant Manager of Atsugi and Higashi-Matsuyama Plants, General Manager of Equipment Management Department, the Company Sep 2026 Managing Director, Executive Officer, General Manager of Business Headquarters, Plant Manager of Atsugi and Higashi-Matsuyama Plants, General Manager of Equipment Management Department, the Company (current)
1966-01-01
Kazumori INAMINE
Director, Audit and Supervisory Committee Member
Apr 1994 Pro Staff Co., Ltd. Oct 1996 Intranet System Co., Ltd. Jun 1999 Deloitte Tohmatsu Consulting Co., Ltd. (now ABeam Consulting Ltd.) Jul 2003 Hikari Tsushin, Inc. Oct 2006 First Partners Group Co., Ltd. (now Avante Co., Ltd.) Feb 2010 JFC Sportsvanguard Co., Ltd. (now JFC Co., Ltd.) Jun 2013 Auditor, RVH Co., Ltd. Apr 2020 Representative Director, Tokyo M&A Consulting Co., Ltd. (now Tokyo Capital Co., Ltd.) (current) Sep 2025 Director, the Company Sep 2026 Director, Audit and Supervisory Committee Member, the Company (current)
1972-11-27
Masami TOYA
Director, Audit and Supervisory Committee Member
Feb 1981 Registered as Attorney-at-Law Feb 1995 Partner, Mitsui Yasuda Law Office May 2007 Managing Attorney, Squire Sanders Gaikokuho Kyodo Jigyo Horitsu Jimusho Nov 2017 Outside Director, Showa Holdings Co., Ltd. (current) Jun 2021 Co-Managing Partner, Alpha Partners Law Office Jun 2022 Attorney-at-Law, Arights Law Office (current) Sep 2026 Director, Audit and Supervisory Committee Member, the Company (current)
1951-07-13
Tsutomu HAYASHI
Director, Audit and Supervisory Committee Member
Nov 1996 Representative Director, Nagatomi Jitsugyo Co., Ltd. (current) Jan 2006 Director, Hotomi Shoji Co., Ltd. Oct 2009 Director, Toshin Shoji Co., Ltd. Nov 2024 Director, Kaitomi Shoji Co., Ltd. Sep 2026 Director, Audit and Supervisory Committee Member, the Company (current)
1968-07-09
Large Shareholding Reports
Pinxiang Business Co., Ltd.
2026-10-16
45.95%
Pinxiang Business Co., Ltd.
2026-10-15
45.95%
Disclosures
No disclosures
Primary Source Filings
EDINETAmended
2026-10-16
Change Report
EDINET
2026-10-15
Large Shareholding Report
EDINET
2026-09-30
Annual Securities Report
Period: Jul 2025 – Jun 2026
EDINETAmended
2026-09-30
Amended Securities Registration Statement
EDINETAmended
2026-09-24
Amended Securities Registration Statement
EDINET
2026-09-18
Securities Registration Statement
TDnet
2026-08-14
Full-Year Earnings Flash
FY ending Jun 2026
TDnet
2026-05-14
Q3 Earnings Flash
FY ending Jun 2026
EDINET
2026-02-13
Semi-Annual Securities Report
Period: Jul 2025 – Jun 2026
TDnet
2025-11-14
Q1 Earnings Flash
FY ending Jun 2026
EDINET
2025-09-29
Annual Securities Report
Period: Jul 2024 – Jun 2025
TDnet
2025-05-14
Q3 Earnings Flash
FY ending Jun 2025
EDINET
2025-02-14
Semi-Annual Securities Report
Period: Jul 2024 – Jun 2025
TDnet
2024-11-14
Q1 Earnings Flash
FY ending Jun 2025
EDINET
2024-09-30
Annual Securities Report
Period: Jul 2023 – Jun 2024
EDINET
2024-05-14
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-09-28
Annual Securities Report
Period: Jul 2022 – Jun 2023
EDINET
2023-05-12
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-09-29
Annual Securities Report
EDINET
2022-05-13
Quarterly Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-09-29
Annual Securities Report
EDINET
2021-05-13
Quarterly Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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